Revenue has experienced a severe contraction, falling to $5.4M in 2025Q4, while gross margins have compressed to 10.5% due to the company's inability to manage input cost volatility.
| Sales/Revenue | 84.88M | 132.91M | 118.81M | 119.3M | 141.13M | 143.92M |
| Revenue Growth % | -36.14% | 11.87% | -0.42% | -15.47% | -1.94% | - |
| Cost of Goods Sold | 73.96M | 108.08M | 97.01M | 100.53M | 117.84M | 116.7M |
| COGS % of Revenue | 87.14% | 81.32% | 81.65% | 84.27% | 83.5% | 81.09% |
| Gross Profit | 10.92M | 24.82M | 21.8M | 18.77M | 23.28M | 27.22M |
| Gross Margin % | 12.86% | 18.68% | 18.35% | 15.73% | 16.5% | 18.91% |
| Gross Profit Growth % | -56.02% | 13.88% | 16.13% | -19.39% | -14.46% | - |
| Operating Expenses | 21.77M | 38.59M | 22.44M | 21.22M | 19.96M | 18.48M |
| OpEx % of Revenue | 25.65% | 29.03% | 18.89% | 17.79% | 14.14% | 12.84% |
| Selling, General & Admin | 21.77M | 35.76M | 2.83M | 2.66M | 2.55M | 15.91M |
| SG&A % of Revenue | 25.65% | 26.9% | 2.38% | 2.23% | 1.81% | 11.06% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 2.83M | 0 | 4.12M | 10.8M | 380K |
| Operating Income | -10.85M | -13.76M | -3.05M | -2.45M | 3.33M | 8.74M |
| Operating Margin % | -12.79% | -10.36% | -2.56% | -2.05% | 2.36% | 6.07% |
| Operating Income Growth % | 21.13% | -351.91% | -24.24% | -173.67% | -61.94% | - |
| EBITDA | -10.4M | -6.43M | 43.15M | 3.09M | 9.43M | 14.21M |
| EBITDA Margin % | -12.25% | -4.84% | 36.32% | 2.59% | 6.68% | 9.88% |
| EBITDA Growth % | -61.58% | -114.91% | 1295.19% | -67.19% | -33.69% | - |
| D&A (Non-Cash Add-back) | 458.22K | 7.33M | 46.2M | 5.54M | 6.1M | 5.47M |
| EBIT | -10.85M | -13.19M | 377K | 10.55M | 5.22M | 6.83M |
| Net Interest Income | -175.7K | -277K | -1.62M | -1.56M | -1.56M | -1.38M |
| Interest Income | 98.83K | 275K | 83.78K | 156.05K | 132.55K | 14K |
| Interest Expense | 274.53K | 552K | 13.34M | 12.34M | 12.3M | 1.4M |
| Other Income/Expense | 229.61K | 22K | -7.35M | 28.13M | -22.21M | -3.31M |
| Pretax Income | -10.62M | -13.74M | -10.39M | 8.93M | 3.66M | 5.44M |
| Pretax Margin % | -12.52% | -10.34% | -8.75% | 7.49% | 2.59% | 3.78% |
| Income Tax | 0 | 1.74M | 1.02M | 310.89K | 2.83M | 1.11M |
| Effective Tax Rate % | 0% | -12.67% | -9.84% | 3.48% | 77.4% | 20.44% |
| Net Income | -10.62M | -15.48M | -11.42M | 8.62M | 826.59K | 4.33M |
| Net Margin % | -12.52% | -11.65% | -9.61% | 7.23% | 0.59% | 3.01% |
| Net Income Growth % | 31.37% | -35.61% | -232.41% | 943.1% | -80.89% | - |
| Net Income (Continuing) | -10.62M | -15.48M | -1.46M | 8.65M | 824K | 4.33M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.93 | -1.41 | -1.02 | 0.78 | 0.07 | 0.06 |
| EPS Growth % | 34.04% | -38.24% | -230.73% | 942.37% | 34.15% | - |
| EPS (Basic) | -0.93 | -1.41 | -1.02 | 0.78 | 0.07 | 0.06 |
| Diluted Shares Outstanding | 11.06M | 11M | 11M | 11M | 11M | 10M |
| Basic Shares Outstanding | 11.06M | 11M | 11M | 11M | 11M | 10M |
| Dividend Payout Ratio | - | - | - | - | 3178.95% | 254.34% |
Severe Revenue Contraction
As evidenced by the sharp decline from $58.5M in 2023Q2 to $5.4M in 2025Q4, Fenbo's top-line trajectory has collapsed, suggesting a fundamental loss of market relevance or the termination of critical OEM manufacturing contracts that previously underpinned the company's operational scale.
The precipitous drop in quarterly revenue indicates that the company is struggling to maintain its position within the competitive consumer electronics manufacturing landscape. Investors should monitor whether this trend reflects a broader cyclical downturn in discretionary spending or a permanent erosion of the company's customer base.
Based on reported financial data, gross margins have compressed from 17.9% in 2023Q2 to 10.5% in 2025Q4, highlighting the company's inability to pass through input cost volatility while operating as a price-taker in a highly commoditized manufacturing environment.
This margin compression suggests that the company lacks the pricing power necessary to offset rising production costs or declining volume efficiencies. The inability to maintain double-digit gross margins warrants further investigation into whether the current manufacturing model remains economically viable at these reduced output levels.
According to the latest income statement filings, the operating margin has deteriorated to -17.2% in 2025Q4, demonstrating that fixed overhead costs are no longer being adequately absorbed by the significantly reduced revenue base, leading to persistent operating losses.
The failure to scale SG&A expenses in proportion to the revenue decline suggests a lack of operational agility in managing the cost structure. This negative operating leverage implies that the company may require a significant restructuring of its fixed cost base to return to profitability.
While the company maintains a cash position of $19M, the consistent quarterly operating losses, as seen in the -17.2% operating margin for 2025Q4, suggest that the current business model may be unsustainable without a strategic pivot or drastic reduction in overhead.
Short-sellers would likely focus on the rapid depletion of operating capital and the lack of a clear path to revenue stabilization. The current financial trajectory suggests that the company's primary value may be shifting toward its remaining cash reserves rather than its ongoing manufacturing operations.
Quick answers to the most common questions about buying FEBO stock.
For fiscal year 2025, Fenbo Holdings Limited Ordinary Shares (FEBO) reported total revenue of $84.9M. This represents a 41.0% decline compared to $143.9M in 2020.
Fenbo Holdings Limited Ordinary Shares (FEBO) reported a net loss of $10.6M for the fiscal year ending 2025.
Fenbo Holdings Limited Ordinary Shares (FEBO) reported an operating income of $-10.9M, resulting in an operating profit margin of -12.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Fenbo Holdings Limited Ordinary Shares (FEBO) generated $10.9M in gross profit for the year, representing a gross profit margin of 12.9%. This demonstrates the company's core pricing power and production efficiency.